Canada's Supreme Court to Hear Binance Appeal on Jurisdiction in Crypto Freeze Orders

The Supreme Court of Canada has agreed to hear an appeal from several Binance companies regarding a court decision on jurisdiction for issuing freeze and management orders involving foreign entities.

The appeal, brought by Nest Exchange Ltd., Binance Canada Capital Markets, and Binance Canada Ltd., questions the appropriate test for courts to determine jurisdiction in such cases.

The court's decision, which granted leave to appeal, stems from a December 2025 Ontario Superior Court of Justice ruling that allowed the Attorney General for Ontario to issue orders freezing $65,000 in crypto assets held in Binance accounts allegedly representing the proceeds of a fraud.

Binance had voluntarily frozen the accounts when notified of the alleged fraud, but opposed the court's orders, arguing that the court lacked jurisdiction over entities outside of Canada and questioning the reliability of crypto tracing.